Pakistan will likely begin Ramadan on March 2, 2025. Federal Ministry of Poverty Alleviation and Social Protection has set the Zakat Nisab at Rs 179,689 for this year.
What is Zakat Nisab?
Zakat Nisab is minimum amount a Muslim must have before paying Zakat. If a person’s savings meet or exceed this amount, banks will automatically deduct Zakat from their accounts.
Zakat Deduction and Affected Accounts
Government has issued an official notification to banks, stating:
- Zakat deduction will take place on March 1 or 2, 2025, depending on when Ramadan begins.
- Banks will deduct Zakat from savings accounts, profit and loss-sharing accounts, and similar deposit accounts.
- Current accounts will remain exempt from Zakat deductions.
Rules for Zakat Deduction
Zakat and Ushr Ordinance 1980 governs the deduction process. According to this law:
- Banks will not deduct Zakat from accounts with a balance below Rs 179,689 on the first day of Ramadan.
- System follows Islamic financial principles to ensure fairness and proper wealth distribution.
Also Read: Inflation in Pakistan Likely to Rise Again This Ramadan
Why is Zakat Important?
Zakat is one of five pillars of Islam and plays a crucial role in helping the poor and needy. Muslims who meet the Nisab threshold must contribute 2.5% of their savings to charity. Government ensures this process takes place fairly and transparently.
Muslims who have savings of Rs 179,689 or more should expect Zakat deductions at start of Ramadan 1446 AH. Those with lower balances will not be affected. Since moon sighting determines Ramadan’s start, the exact deduction date may change.
For further details, contact your bank or refer to official government announcements.